Blog - Michael Bailey Law, LLC

Lessons From Top Gun: Maverick: A Change In Your Relationships Means An Update In Your Estate Plan

I, along with a lot of other people, saw the movie “Top Gun: Maverick” this summer. The movie came out 36 years after the original “Top Gun” movie. Without giving away too many spoilers for the movie, the main character and hero, Maverick, was the same, but many of the other characters around him had changed. I am one who enjoyed both movies, … [Read more...]

“We The People” Are A Lot Alike: Why I Am The People’s Estate Planning Attorney

I cannot count the number of times college age students tell me they want to be an attorney. When I ask them why they want to go to law school I sometimes get confused looks. Many tell me that they want to make a difference in the world by saving the environment, protecting the innocent, or they are motivated to protect someone from the … [Read more...]

Can I Leave Money to My Church When I Die?

The simple answer to this question is: Yes, you can. However, not all gifts to a church, or any charity for that matter, are the same. You can choose to give money to a charity as an outright gift, or as a gift inside of of your estate planning documents like a trust. You can choose to leave money to a charity, or leave property in kind to a … [Read more...]

Estate Planning vs. Medicaid Planning Compared Side by Side

Let’s start with what seems the most obvious to me, but may not to everyone else who doesn’t work as an estate planning attorney like I do: Estate Planning and Medicaid Planning are not completely different things. Instead, Estate Planning is a general, overall, term for setting up a plan for your assets when you die, and what happens between now … [Read more...]

How Can I Split Assets Among My Children In My Estate Plan So They Don’t Fight?

Like most people who have more than one child, we have to be careful about what we give to one child and not the others. When my children were younger, they were keenly aware if one child had a birthday, that child was going to get a present. The other children, particularly the younger children, found this to be quite unfair, as they were not … [Read more...]

How Do I Leave My Cabin to My Family After I Die?

My father worked for Hewlett Packard and Agilent Technologies when I was a child. One of the perks of working for those companies was that the companies owned a significant amount of land called Hermit Park in the mountains near Estes Park,CO. Sadly, the companies no longer own the land, but it has been converted to open space owned by the … [Read more...]

How Do I Leave My Dog to My Family After I Die?

(Or My Cat, Hampster, Lizard, or other Pet) In my family, I think of my dogs as being my canine children. I currently have two canine children to go along with my three human children. I don’t treat my human children exactly the same as my canine children, but I do treat the dogs well. My dogs sleep in cages at night, while the humans get beds … [Read more...]

How To Give Your House Away After You Die – Estate Planning 101 (or Maybe Even More Basic Than That)

For most people who own a home, the home is likely their largest, and most valuable asset. If you purchased a home while you were young, and then paid off the home over time, then the home has likely appreciated in value, and your home is worth quite a bit. When it comes time to pass the house on to your children, you want to pass along the home, … [Read more...]

Estate Planning For Pregnancy? What You Should Know In Colorado

When my first child was born, that was the first time I began to think about what would happen to my family if I were to pass away. I didn’t have a lot of assets at that point. I lived in an apartment with furniture purchased mostly from garage sales, and I had a car worth about $500, so it wasn’t like I was too worried about money. I happened … [Read more...]

How Do I Leave My Car to My Family After I Die?

I have several clients who restore old cars, usually classic cars, and then either keep them, or sell them to other collectors. They often want to leave the car to their family and ask me, “How do I leave my car to my family after I die?” These really are some neat cars, so I understand wanting to keep the cars in the family. I have seen some … [Read more...]